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Clorox Q4 Profit Rises

Clorox Company (CLX) Wednesday reported fourth-quarter net income of $101 million or $0.81 per share, up from $97 million or $0.78 per share last year.

Adjusted earnings for the quarter decreased 2% to $0.93 per share from $0.95 per share in the year-ago quarter, driven mainly by a higher effective tax rate, partially offset by lower advertising.

Revenues for the fourth quarter were $1.80 billion, same as last year.

Analysts polled by Thomson Reuters expected earnings of $0.93 per share and revenues of $1.86 billion for the quarter.

For the full year 2022, the company expects sales to be between down 4% to up 2%, earnings between $3.10 and $3.47, and adjusted earnings between $3.85 and $4.22. Analysts currently estimate earnings of $5.26 per share and revenue to grow about 2.30%.

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